On Monday, Guess?, Inc.(NYSE:GES)’s shares declined -1.86% to $22.12.
Paul Marciano, Co-Founder and Chief Executive Officer of Guess?, Inc. (GES), announced today that Victor Herrero will be his successor and new CEO of Guess?, Inc. in August 2015. Paul Marciano will replace Maurice Marciano as Executive Chairman of the Board and will continue serving as Chief Creative Officer. Maurice Marciano will remain a director, and has been named Chairman Emeritus by the Board of Directors.
Victor Herrero joins Guess? with over twenty years of global experience spanning Europe and Asia. Victor served as the head of Asia Pacific for Inditex Group, the world’s largest fashion retailer with brands including Zara, Massimo Dutti, Pull & Bear, Bershka, and Stradivarius. In the past 10 years, Victor was responsible for building Inditex’s multi-billion dollar business in Asia.
Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of contemporary apparel and accessories for men, women, and children that reflect the American lifestyle and European fashion sensibilities. It operates through North American Retail, Europe, Asia, North American Wholesale, and Licensing segments. The company’s clothing collection comprises jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear, and intimate apparel. It also grants licenses to manufacture and distribute various products that complement its apparel lines, such as eyewear, watches, handbags, footwear, kids and infants apparel, outerwear, swimwear, fragrance, jewelry, and other fashion accessories.
Zions Bancorporation (NASDAQ:ZION)’s shares gained 0.31% to $29.00.
Zions Bancorporation (ZION) stated second quarter net income of $14.0 million and a net loss applicable to common shareholders of $(1.1) million, or $(0.01) per diluted common share. During the second quarter, the Company sold the remaining portfolio of its collateralized debt obligation (“CDO”) securities and recognized a one-time pretax loss of about $137 million, or $0.42 after-tax per diluted common share. Shareholders’ equity was not adversely affected as the loss had been formerly recognized in accumulated other comprehensive income (“AOCI”). Not taking into account the loss, net earnings applicable to common shareholders was $83.4 million, or $0.41 per diluted common share, for the second quarter of 2015, contrast to $75.3 million, or $0.37 per diluted common share, for the first quarter of 2015.
Second Quarter 2015 Highlights
- Credit quality metrics were generally stable with a decrease in nonaccruing loans and a slight enhance in classified loans from the preceding quarter. Annualized net charge-offs were 0.11% of average loans. The overall effect contributed to a $0.6 million provision for loan losses.
- Total noninterest expense was $404 million during the second quarter and $802 million year-to date. Certain one-time and seasonal expenses during the second quarter of 2015 were partially offset by other expense credits, counting insurance recoveries of $9.2 million. The Company is maintaining its commitment to hold noninterest expenses below $1.6 billion in 2015 and 2016.
- Loan balances, not taking into account energy-related loans, raised $128 million during the second quarter contrast to a $25 million enhance during the first quarter calculated on the same basis. Energy-related loans declined $284 million linked quarter. Overall, net loans and leases declined $156 million during the second quarter.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending.
At the end of Monday’s trade, Trinity Industries Inc (NYSE:TRN)‘s shares surged 0.86% to $26.99.
Trinity Industries, Inc. (TRN) declared earnings results for the second quarter ended June 30, 2015, counting the following noteworthy highlights:
- Second quarter earnings per common diluted share of $1.33 contrast to $1.01 for the second quarter of 2014, a 32% enhance year-over-year.
- Quarterly revenue and net income of $1.68 billion and $212.0 million, respectively, a year-over-year enhance of 13% and 29%, respectively.
- Rail and Inland Barge Groups stated record operating profit during the second quarter.
- Rail Group delivered 8,530 railcars and received orders for 11,170 new railcars during the second quarter, increasing its backlog to $6.90 billion.
- Structural wind towers business received orders totaling $183.9 million, increasing its backlog to $502.6 million.
- Company raised earnings guidance for full year 2015 to between $4.45 and $4.75 per common diluted share contrast to previous guidance of between $4.10 and $4.45 per share.
Business Group Results
In the second quarter of 2015, the Rail Group stated revenues and record operating profit of about $1.11 billion and $227.7 million, respectively, resulting in year-over-year enhances contrast to the second quarter of 2014 of 24% and 29%, respectively. The enhances in revenues and profit were due primarily to higher deliveries, improved pricing, and raised operating efficiencies partially offset by product mix changes. The Rail Group shipped 8,530 railcars and received orders for 11,170 railcars during the second quarter. The Rail Group had a backlog of $6.90 billion as of June 30, 2015, representing 59,830 railcars, contrast to a backlog of $6.81 billion as of March 31, 2015, representing 57,190 railcars.
Trinity Industries, Inc. provides various products and services for the energy, transportation, chemical, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, counting autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and couplers, axles, and other equipment, in addition to railcar maintenance services. This segment serves railroads, leasing companies, and industrial shippers of various products.
Yum! Brands, Inc. (NYSE:YUM), ended its Monday’s trading session with -2.43% loss, and closed at $79.79.
KFC Corporation is a partner of Yum! Brands, Inc., Louisville, Ky. (YUM).
Earlier this year, two Canadian families made headlines after driving 2,000 miles for some finger lickin’ good® Kentucky Fried Chicken® at the birthplace of Original Recipe® Chicken in Corbin, Kentucky. Just like Colonel Sanders, who traveled over 200,000 miles a year to visit every KFC® restaurant across America, these loyal KFC fans took an epic journey of their own. And, to honor them, KFC treated the two families to a first-class, behind-the-scenes visit at their headquarters in Louisville, Kentucky where the Original Recipe® magic continues recently.
Longtime friends Brian Lutfy and Neil Janna of Montreal, Quebec, decided in April to get a bucket of their favorite finger lickin’ good chicken the hard way— by going on a five-day road trip to Corbin, Kentucky with their sons. After hearing the news of their courageous pilgrimage, KFC invited them back for a behind-the-scenes tour of the brand’s headquarters in Louisville, to actually prepare their beloved fried chicken alongside KFC’s head chef and see how the Original Recipe® Kentucky Fried Chicken is made.
YUM! Brands, Inc., together with its auxiliaries, operates quick service restaurants. It operates in five segments: YUM China, YUM India, the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company develops, operates, franchises, and licenses a system of restaurants, which prepare, package, and sell various food items.
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